Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1887-11-18
OLYMPIA. WASHINGTON TER.
OLYMPIA. FRIDAY EVENING. nov. is. 1851
Depends upon the Way you Look at IT..

upOI tut way NOu IVON IT,
Our correspondent s., who has
given many excellent suggestions
through these columns the past few
months, comments this week on the
subject of taxation, and assumes that
the levy for municipal purposes is too
high, not only for the pockets of the
people, but for the encouragement OF
investments of capital. There is much
force in the facts stated and doubtless
strict economy has not at all times
been practiced in the administration
OF municipal affairs; but we maintain
that Olympia has something to show
for the investments made the past few
months and the objects subserved
have been crying evils for many years
which have wrought almost irrepaira-
bic injury to a community blessed by
many natural advantages. In esti-
mating the rate per cent. a community
is justified in expanding for public
improvements, many circumstances
should be taken into consideration.
The same rules that apply for judicious
investment in private enterprises APP
ply with equal force to those of a
public nature. If the prevailing rate
OF interest on money is high, the as
sumption is that the local business
and the methods under which it is
transacted, justify the payment of
more than is charged in communities
that count their income on a smaller
margin of profit. 1t is quite probable
that the "party of gentlemen from
far-off New England" did not take
this circumstance into consideration.
They may have estimated the income
on capital invested at five or six per
cent. per annum, as had been their
custom, rather than upon ten per
cent. or one and one and one-half per
cent. per month, as our money
changers do here. The difference will
admit of the payment Of fabulous
tax-levy and leave hundred or two
per cent. profits in favor OF local invest
ment over Eastern business. Wages
too is correspondingly higher here,
while the cost of living is scarcely
greater, if not less; so that the poor
man here does not feel the burden of
large levy on his homestead, as
much as an Eastern individual in
moderate circumstances whose pay is
smaller. 1t may be true, as S. assets,
that capital is able to take care OF
itself, but it must be admitted that it
sometimes pursues a course that can
not, by any process of finite reason, be
considered prudent or judicious, The
"party of gentlemen from far-of New
England, representing five or six mil
ions," could have found no better
field anywhere than in Thurston
county to have unloaded their wealth,
with gilt-edged security, at a higher
rate of interest than they ever dreamed
of in the land of wooden-nutmegs, and
been able to pay the highest ratio of
taxation with the certainty that every
dollar spent in public improvement
only added to their gains and in
creased the stability of their invest
ments.
The STANDARD is by no means an
advocate of high taxation. 1t would
place the levy at the lowest possible
figure commensurate with public ne
cessity; but there are times, in public
as in private business affairs, when
circumstances require an extraordin-
airy effort, to keep pace with the pro-
gress of events. Such an exigency is
now upon us. We must put our
shoulders to the wheel or be distanced
in the race for prosperity. Our peo-
pie, We are happy to state, realize the
demands of the hour and cheerfullv
unite in the use of extraordinary
measures for relief.